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"Asumadu, Edward"
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Examine the long run effect of corporate governance on Ghana SIC’s financial performance
This study examine the long run effect of corporate governance on Ghana SIC’s financial performance. The study employs the Autoregressive Distributed Lag (ARDL) technique to investigate the multifaceted relationship between corporate governance and the financial performance of SIC (Sampled Industrial Company). Using time-series data spanning from 2017 to 2021, the study examines both the long-term and short-term impacts of corporate governance on SIC's financial performance while considering the influence of a control variable, firm size. The dependent variables in this analysis are return on assets, while the independent variables encompass board size, board composition, and CEO tenure at SIC. The control variable utilized was firm size. To assess the hypotheses, regression analysis was conducted, resulting in the identification of long-run equilibrium relationships among the variables. In terms of the long-term effects, the study found board size and board composition do not exert significant influences on SIC's financial performance. Conversely, CEO tenure at SIC was found to have a statistically significant negative impact on financial performance in the long run. Moreover, when considering the control variable, firm size demonstrates a highly significant negative impact on return on assets at SIC in the long run. The findings of this study provide valuable insights into the complex interplay between corporate governance and financial performance, shedding light on the nuanced effects of board size, board composition, CEO tenure, and firm size on SIC's financial outcomes. The study recommend that, by prioritizing stability in CEO leadership, focusing on board effectiveness beyond composition, and actively managing the challenges associated with firm growth, SIC can enhance its financial performance and ensure sustained success in the long run.
Journal Article
Examine the long run effect of corporate governance on Ghana SIC's financial performance
by
Owusu-Akomeah, Michael Nana
,
Appiadjei, Eric Atta
,
Amponsah, Emmanuel Attah Kumah
in
Audits
,
Boards of directors
,
Chief executive officers
2024
This study examine the long run effect of corporate governance on Ghana SIC's financial performance. The study employs the Autoregressive Distributed Lag (ARDL) technique to investigate the multifaceted relationship between corporate governance and the financial performance of SIC (Sampled Industrial Company). Using time-series data spanning from 2017 to 2021, the study examines both the long-term and short-term impacts of corporate governance on SIC s financial performance while considering the influence of a control variable, firm size. The dependent variables in this analysis are return on assets, while the independent variables encompass board size, board composition, and CEO tenure at SIC. The control variable utilized was firm size. To assess the hypotheses, regression analysis was conducted, resulting in the identification of longrun equilibrium relationships among the variables. In terms of the long-term effects, the study found board size and board composition do not exert significant influences on SIC's financial performance. Conversely, CEO tenure at SIC was found to have a statistically significant negative impact on financial performance in the long run. Moreover, when considering the control variable, firm size demonstrates a highly significant negative impact on return on assets at SIC in the long run. The findings of this study provide valuable insights into the complex interplay between corporate governance and financial performance, shedding light on the nuanced effects of board size, board composition, CEO tenure, and firm size on SIC s financial outcomes. The study recommend that, by prioritizing stability in CEO leadership, focusing on board effectiveness beyond composition, and actively managing the challenges associated with firm growth, SIC can enhance its financial performance and ensure sustained success in the long run.
Conference Proceeding
Effect of Foreign Direct Investment on Economic Growth in Ghana
by
Amponsah, Emmanuel Attah Kumah
,
Asumadu, Edward
,
Ampong, George Oppong Appiagyei
in
Economic activity
,
Economic growth
,
Employment
2024
The objective of this study was to investigate the impact of foreign direct investment (FDI) on economic growth in Ghana, by examining the effect of FDI flow, FDI stock and FDI per capita on economic growth. The study adopted the quantitative and descriptive research design to analyse annual time series data on the dependent and independent variables spanning twenty-seven (27) years from 1996 to 2022. The ordinary least square and seemingly unrelated regression techniques were used for data analysis. The study revealed that FDI flow, FDI stock and FDI per capita had a statistically significant positive effect on per capita economic growth. The study thus recommended that the government of Ghana should intensify its efforts to carefully develop and implement progressive and attractive policies that can induce more investment from foreign multinationals, thereby increasing the stock of external capital inflows that can be channelled into the most value generating sectors of the country to eliminate production inefficiencies and boost domestic output that can increase economic growth. Additionally, the government of Ghana through the appropriate agencies can improve the enforcement of its regulatory policies to ensure that multinational firms and the general activities of foreign investors consistently provide fair and commensurate wages to Ghanaian workers, in order to promote the beneficial effects that FDI has on reducing income inequality in Ghana. MNCs must therefore provide the same value of remuneration for the same level of skills-quality and demand that workers in other economies would receive. This will eliminate wage differentials, transition low-wage earners into higher income status and thus reduce income inequality.
Journal Article